Inactive Instrument

PRUL BANC

Equities

PBIP

US74431A1016

Prudential Bancorp, Inc. and Prudential Bank Announce Retirement of Francis V. Mulcahy as Director

December 23, 2019 at 04:34 pm EST

On December 18, 2019, Mr. Francis V. Mulcahy, a member of the Board of Directors (Board) of Prudential Bancorp, Inc. (the Company) whose term expires at the annual meeting of shareholders of the Company expected to be held in February 2020 (the 2020 Annual Meeting), advised the Board that he has determined for personal reasons to not stand for re-election to the Board and to retire from the Board effective as of the 2020 Annual Meeting. Mr. Mulcahy, who is also a director of the Company's wholly owned bank subsidiary, Prudential Bank (the Bank), will retire concurrently from the Bank's Board of Directors.

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Company Profile

Prudential Bancorp, Inc. is engaged in activity of the ownership of Prudential Bank (the Bank's) common stock. The Bank is a community-oriented savings bank, which is focused on originating long-term, single-family residential mortgage loans, commercial real estate, construction and land development lending. It attracts deposits from the general public and using those funds to invest in loans and securities. Its sources of funds are deposits, repayments of loans and mortgage-backed securities, maturities and calls of investment securities and interest-bearing deposits, funds provided from operations and funds borrowed from the Federal Home Loan Bank of Pittsburgh. These funds are primarily used for the origination of various loan types, including single-family residential mortgage loans, construction and land development loans, non-residential or commercial real estate mortgage loans, home equity loans and lines of credit, commercial business loans and consumer loans.

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